A PYMNTS Company

Merger Creates Biggest Cannabis Company In The World

By  |  December 16, 2020

Aphria and Tilray have agreed to merge in a deal that forms the world’s largest cannabis company, reported Bloomberg. 

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The all-stock deal will create a company valued at about CA$5 billion (US$3.9 billion) that generated CA$685 million of sales over the past year, making it larger than all other companies in the global cannabis industry.

    “By leveraging our combined strengths and capabilities, we expect to be able to meet the needs of consumers more effectively all over the world and advance patient care,” Tilray CEO Brendan Kennedy said in a statement. 

    The new company, which will use the name Tilary and trade on the Nasdaq under the ticker TLRY, will have a portfolio of branded products in Canada and will pursue medical opportunities in Europe.

    Tilray will also have a packaged goods presence in the US through its cannabis lifestyle craft brewer SweetWater Brewing and Manitoba Harvest, a CBD and wellness product manufacturer.

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.